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Aviation
New insurance details of missing Malaysia Airlines plane emerge
Further insurance arrangements of Malaysia Airlines flight MH370 emerged this week with Etiqa Insurance & Takaful, the insurance unit of Malayan Banking, widely reported as the lead local insurer of…
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Association News
German risk management community loses key players to insurance industry
Germany's risk management community lost two prominent members to the insurance industry over the last week with Klaus Greimel of energy giant E.ON and Hanns Martin Schindewolf, who left car…
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Association News
RIMS concerned by onerous health and safety rule changes in US
RIMS has warned that proposed rule changes governing health and safety reporting for all organisations operating in the US would have an adverse effect on related risk management practices. The…
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CRE Insurance
Global energy sector an open invitation to cyber hackers warns Marsh
The global energy sector is increasingly vulnerable to cyber attacks with its adoption of internet-based industrial control systems (ICS) an open invitation to hackers, warned Marsh this week.
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CRE Insurance
Hannover and Scor post record profits as European reinsurers perform strongly
Europe's third and fourth largest reinsurers, Hannover Re and Scor, have both posted record profits for 2013. The positive figures continue the good results announced by Munich and Swiss Re…
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CRE Insurance
Shipping losses decline but emerging risks need attention: AGCS
Worldwide shipping losses fell 20% to 94 last year, continuing the downward trend over the last decade, according to Allianz Global Corporate and Specialty's (AGCS) Safety and Shipping Review 2014.
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Climate Change
Corporate round-up
Aon buys Lorica Employee Benefits, AGCS appoints new chief claims officer to management board, ACE expands environmental offering with crisis management service and RMIA CEO steps down.
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CRE Insurance
ABI places UK’s bad weather losses at £1.1bn
Insurance losses from the recent bad weather in the UK will total an estimated £1.1bn, according to the Association of British Insurers (ABI).
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CRE Insurance
Competitive Swiss market but discipline remains-Fitch
Competition in the Swiss insurance market remains high but participants are maintaining underwriting discipline, according to a new report by Fitch Ratings.
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Europe
Global programmes: still easier said than done?
Is it getting any easier to establish a global programme? International Programme News asked the experts what they think.
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Europe
Changing landscape for D&O in Brazil
The D&O insurance market is booming in Brazil as executives of large companies become more exposed to the risk of being investigated by the country's increasingly aggressive regulatory bodies.
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Europe
IAIS under pressure over global programmes
One of the biggest problems faced by companies and their brokers and insurers when putting together a multinational programme is regulators' response to non-admitted excess covers in different countries. Now…
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Europe
Special new horizons for global programmes
Multinational insurance programmes are usually focused on conventional property and casualty risks, with companies frequently purchasing separate insurance policies to cover individual specialty worldwide exposures. But according to Clive Hassett,…
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Europe
Outlook for global insurance improves
The global insurance industry is finally emerging from the combination of financial turmoil and economic uncertainty that has beset its constituents for the last few years, according to EY's latest…
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Europe
Fronting fees–more art than science?
A recent white paper from AIG has taken a new look at fronting fees and how they are calculated. The paper acknowledges that, in the past, fronting companies have been…
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Europe
Tax and regulatory news
IPT update from TMF Group, Marsh's Regulatory and Premium Tax Update, Change in prepayment offsetting highlighted by Fiscal Reps, Premium tax changes from Fiscal Reps, Finally! Solvency II set for…
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Europe
News in brief
AIG launches cross-border casualty risk product, GCC insurance growth rates remain high, ASEAN integration bodes well for independent brokers, D&O in India to grow, New compulsory TPL insurance in Saudi,…
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Europe
Captive news
Warning on liquidity risk and intercompany loans, AIG launches segregated account company in Bermuda, Nevada hits 150 captive licence mark, Gibraltar to become ILS jurisdiction within EU, Cayman adds 39…
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Europe
Editor’s comment–Travel broadens the mind but there are risks too
Establishing and coordinating a multinational insurance programme is hard work and time-consuming. To sell the programme to local subsidiaries, the group risk/insurance manager must travel around the world to wherever…
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Europe
Japan market report
The Japanese insurance market is mature and has become increasingly concentrated. Today, it is dominated on the non-life side by three domestic 'mega' insurance groups: Mitsui Sumitomo Aioi Nissay Dowa…